Press Release
Thunder Bay: January19, 2016
Shares Issued: 170,692,322
PREMIER DISCOVERS MORE HIGH GRADE AT McCOY-COVE
Drill intercepts include 1.8m of 21.0 g/t Au and 679.00 g/t Ag
PREMIER GOLD MINES LIMITED (TSX:PG) (“Premier”, “the Company”) is pleased to announce that
ongoing drilling continues to identify high-grade mineralization in multiple horizons at the Company’s McCoyCove Project, located along the Battle Mountain-Eureka Trend in Nevada. Drill results from the 2015 exploration
program have confirmed expansion potential within the historic UPC Zone and intersected multiple intercepts of
Au-Ag±Cu skarn and polymetallic mineralization at depth beneath the historic McCoy pit. Two new mineralized
zones were also intersected at previously undrilled depths, while testing the “Deep IP” target between the McCoy
and Cove pits. Highlights from recent drilling include:

UPC Zone & New Discovery assay results
o
PM15-09:
 1.4 metres (m) of 15.95 grams per tonne gold (g/t Au), 7.37 g/t silver (Ag), or 16.04
g/t gold equivalent (AuEq)
 4.3 m of 12.81 g/t Au, 25.56 g/t Ag, or 13.14 g/t AuEq
o
PM15-10
 4.3 m of 7.20 g/t Au, 14.39 g/t Ag, or 7.38 g/t AuEq
o
PM15-13:
 3.5 m of 7.72 g/t Au, 26.78 g/t Ag, or 8.06 g/t AuEq
 1.5 m of 9.83 g/t Au, 130.00 g/t Ag, or 11.49 g/t AuEq
o
PM15-16A:
 1.2m of 0.05 g/t Au, 874.00 g/t Ag, or 11.31 g/t AuEq
 1.8 m of 21.00 g/t Au, 679.00 g/t Ag, or 29.67 g/t AuEq
o
PM15-17
 2.8 m of 14.35 g/t Au, 7.17 g/t Ag, or 14.44 g/t AuEq
McCoy Open Pit & Underground
Initial drilling of the UPC zone has confirmed historic mineralization as well as identified additional expansion
potential along the Gold Dome fault. Continued drilling 300 m beneath the UPC Zone with drill-hole PM15-09
discovered new mineralization hosted within the hanging wall of the McCoy Thrust fault. The McCoy Thrust
created a similar thrust-dominated structural fabric to the Cove pit and its associated deposits with mineralization
consisting of sulfidic skarn alteration and mineralization at the thrust contact with the Dixie Valley conglomerate
and Favret limestone. The McCoy thrust is also cut by several cross-cutting “feeder” structures including the Gold
Dome and Bay faults, which were historically mined at both the Cove and McCoy open pit and underground
operations. Step-out drilling 200m along strike of PM15-09 intersected similar alteration and mineralization
associated with the McCoy thrust in PM15-11A. Structural similarities to the thrust fault-hosted 2201 Zone
beneath the Cove pit, as well as lateral continuity suggested by initial drilling, confirms Premier’s belief that
significant infill and expansion potential exists within the McCoy Thrust horizon and warrants additional drilling
in 2016.
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Figure 1: PM15-09 confirmed the down-dip expansion potential of the UPC zone (Star #1) and discovered high
grade skarn at depth within the hanging wall of the newly defined McCoy Thrust fault (Star #2).
Table 1 – Select assay results for McCoy open pit and underground drilling program
Hole-ID
PM15-09
UTM Coordinates
(m)
480739E/4464010N
Dip/Azimuth
(degrees)
-90/000
-83/112
PM15-10
480875E/4464034N
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)
Target
47.2
57.9
10.7
0.43
7.18
0.52
West Contact
449.6
451.0
1.4
15.95
7.37
16.04
UPC
889.1
932.5
893.4
934.5
4.3
2.0
12.81
3.32
25.56
68.35
13.14
4.19
McCoy Thrust
McCoy Thrust
61.0
74.7
13.7
1.57
6.05
1.65
West Contact
445.3
446.2
0.9
15.35
4.00
15.40
UPC
493.9
498.3
4.3
7.20
14.39
7.38
UPC
51.8
62.5
10.7
0.70
18.66
0.94
West Contact
882.4
885.5
3.1
1.14
7.39
1.23
McCoy Thrust
939.7
941.5
1.8
3.60
11.65
3.75
McCoy Thrust
PM15-11
480687E/4463991N
-72/127
PM15-11A
480687E/4463991N
-72/127
PM15-12
480892E/4463891N
-90/000
31.9
36.4
4.5
0.81
1.20
0.83
West Contact
-67/123
89.0
160.1
71.1
0.69
2.58
0.72
West Contact
Including
141.3
144.8
3.5
7.72
26.78
8.06
West Contact
488.0
489.5
1.5
9.83
130.00
11.49
UPC
-72/117
397.3
400.9
3.6
4.34
8.06
4.44
UPC
Including
397.3
398.4
1.1
7.15
20.00
7.41
UPC
-76/167
140.2
146.3
6.1
0.46
1.47
0.48
-70/087
418.8
556.0
420.0
557.8
1.2
1.8
0.05
21.00
874.00
679.00
11.20
29.67
West Contact
NE-1 Fault
PM15-13
PM15-14
PM15-15
PM15-16A
480805E/4464026N
480870E/4464061N
481029E/4464129N
480654E/4464185N
- AuEq ratio 78:1 (Ag:Au)
- Assays provided are uncapped
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- True width estimated at 70-95%
UPC
Deep IP Target
The Deep IP target horizon is located between the McCoy and Cove open pits, with the strongest anomaly
associated with the Gold Dome and Bay faults at previously untested depths of 400 metres or more. Initial testing
of the Deep IP anomaly with drill-hole PM15-17 intersected multiple intervals of Carlin-type and polymetallic
mineralization at previously undrilled depths. Figure 2 and Table 2 provides a summary of initial results.
Figure 2: PM15-17 tested the Deep IP anomaly between the McCoy and Cove pits and intersected multiple zones
of Carlin-type and polymetallic mineralization (Star #1 & #2).
Table 2 – Select assay results for the Deep IP target
Hole-ID
UTM Coordinates
(m)
Dip/Azimuth
(degrees)
PM15-17
481298E/4464625N
-83/130
- AuEq ratio 78:1 (Ag:Au)
From
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
AuEq
(g/t)
Target
510.2
514.7
4.5
5.80
2.71
5.83
Deep IP
899.6
902.4
2.8
14.35
7.17
14.44
Deep IP
- Assays provided are uncapped
- True width estimated at 80-90%
“Intercepts from the 2015 drilling program highlight the potential size of the McCoy-Cove system and
demonstrate our confidence to expand high grade gold and silver mineralization within the UPC, Deep IP and
McCoy Thrust target horizons,” stated Chad Peters, Premier’s Nevada Exploration Manager on the Company’s CSuite Blog today (http://www.premiergoldmines.com/news/c-suite-blog). “Planned 2016 drilling will focus on
infill and expansion of multiple high grade targets with a property-wide resource update planned for year-end.”
The McCoy-Cove Project is located along the Battle Mountain-Eureka Trend (See Figure 3) that is host to
numerous multi-million ounce producing and past-producing mines. The McCoy and Cove deposits were mined
(primarily by open pit) between 1986 and 2001, a period of comparatively low metal prices, producing
approximately 3.3 million ounces of gold and more than 110 million ounces of silver. The property is located in
close proximity to excellent infrastructure (including paved roads & power) and is permitted for an expanded
surface drill campaign and underground access.
Figure 3: McCoy-Cove Property located 56 km south of Battle Mountain, NV off Highway 305
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Stephen McGibbon, P. Geo., is the Qualified Person for and approved the scientific and technical information
contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Assay
results were sent to ALS Laboratories prep facility located in Elko, Nevada and analysis was performed at their
Sparks, Nevada analytical facility utilizing 30 gram fire assay with an AA finish for RC samples and 30 gram fire
assay with AA and automatic gravimetric finish on over-limit samples. ICP-MS 30 element scan from 4-acid
digestion is also utilized for core samples.
Premier Gold Mines Limited is one of North America’s leading exploration and development companies with a
high quality pipeline of gold projects focused in proven, safe and accessible mining jurisdictions in Canada and
the United States. The Company is well-financed with a portfolio of advanced-stage assets in world class gold
mining districts such as Red Lake and Geraldton in Ontario and the most prolific gold trends in Nevada.
For further information, please contact:
Ewan Downie, President & CEO
e-mail: Info@premiergoldmines.com
Phone: 807-346-1390
Fax: 807-346-1381
Web Site: www.premiergoldmines.com
This Press Release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to, statements about strategic plans, including future operations, future work programs, capital
expenditures, discovery and production of minerals, price of gold and currency exchange rates, timing of geological reports and corporate and technical
objectives.. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and
unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by
such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in
Premier's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions
and estimates of management and information available to management as at the date hereof. Premier disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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